Primetrust Financial Federal Credit Union Mortgage Rates, Fees & Info
Muncie, INLEI: 254900HUD7SD8U5L3C11
Tax ID: 35-0889144
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Mortgage Data
Review & Overview
Primetrust Financial Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Primetrust Financial Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Muncie, Kendallville, Marion, and New Castle among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Primetrust Financial Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Primetrust Financial Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.40% | 12/16/24 |
| 30 Year Cash-out Refi | 6.03% | 12/16/24 |
| 15 Year Conventional Purchase | 6.13% | 12/16/24 |
| 15 Year Conventional Refi | 6.31% | 12/16/24 |
| 15 Year Cash-out Refi | 6.31% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Primetrust Financial Federal Credit Union Mortgage Calculator
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This is not an official calculator from Primetrust Financial Federal Credit Union. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
66Origination Dollar Volume (All Markets)
$5,730,000Awards
PrimeTrust Financial Federal Credit Union - 2021
PrimeTrust Financial Federal Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| MUNCIE, IN (FHA|USDA|VA) | 61 | $5,155,000 | $84,508 | $1,241 | 3.23% |
| Outside of Metro Areas | 2 | $350,000 | $175,000 | $1,939 | 3.00% |
| Kendallville, IN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $687 | 4.25% |
| Marion, IN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,489 | 3.00% |
| New Castle, IN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $345 | 4.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against PrimeTrust Financial Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 20
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 66 | $5,730,000 | $86,818 | $1,244 | 3.25% |
For 2021, Primetrust Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 66 originations.
Loan Reason
For 2021, Primetrust Financial Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 39 originations. The 2nd most popular reason was Home Improvement, with 8 originations.
Loan Duration/Length
For 2021, Primetrust Financial Federal Credit Union's most frequently cited loan duration was 15 Year, with 29 originations. The 2nd most popular length was 30 Year, with 14 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 66 | $5,730,000 | $86,818 |
Primetrust Financial Federal Credit Union's average total fees were $1,601, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 66 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 31 | $3,085,000 | $99,516 |
| 3-4% | 17 | $1,625,000 | $95,588 |
| 4-5% | 13 | $545,000 | $41,923 |
| <2.5% | 5 | $475,000 | $95,000 |
During 2021, Primetrust Financial Federal Credit Union's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 2.5-3%, with 31 originations.
Loan Sizing
2021 saw Primetrust Financial Federal Credit Union place emphasis on $100,000 or less loans with 45 originations, totaling $2,615,000 in origination value.
Applicant Income
Primetrust Financial Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $100k-150k, with 16 originations.
Applicant Debt to Income Ratio
Primetrust Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? <20%, with 18 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.31%
Primetrust Financial Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination93.94%
Primetrust Financial Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 66 | $5,730,000 | $86,818 |